Jefferies Group Cuts JinkoSolar Holding Co. Price Target to $43.50 (JKS)
Equities researchers at Jefferies Group lowered their target price on shares of JinkoSolar Holding Co. (NYSE:JKS) from $48.90 to $43.50 in a research report issued on Tuesday. Jefferies Group’s target price suggests a potential upside of 58.88% from the company’s current price.
JinkoSolar Holding Co. (NYSE:JKS) opened at 27.38 on Tuesday. JinkoSolar Holding Co. has a 52-week low of $12.91 and a 52-week high of $37.98. The stock’s 50-day moving average is $26.77 and its 200-day moving average is $28.18. The company has a market cap of $845.4 million and a price-to-earnings ratio of 16.60. JinkoSolar Holding Co. also was the recipient of some unusual options trading on Monday. Investors bought 4,741 put options on the company. This represents an increase of 481% compared to the typical daily volume of 816 put options.
JinkoSolar Holding Co. (NYSE:JKS) last issued its quarterly earnings data on Monday, August 18th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.16. The company had revenue of $392.10 million for the quarter, compared to the consensus estimate of $391.55 million. During the same quarter last year, the company posted $0.56 earnings per share. Analysts expect that JinkoSolar Holding Co. will post $2.88 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of JinkoSolar Holding Co. from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 30th. They now have a $31.40 price target on the stock. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of JinkoSolar Holding Co. in a research note on Monday, July 7th. They set a “neutral” rating and a $31.00 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of JinkoSolar Holding Co. in a research note on Friday, June 20th. They set an “outperform” rating and a $45.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $40.32.
JinkoSolar Holding Co, Ltd. (NYSE:JKS) is a solar power product manufacturer.
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